Please note that the answer 15.80 is wrong. You will get down vote if you copy the answer from other chegg questions or get it wrong.

A) 8.16

B) 9.11

C )12.56

D) 11.22

Computech Corp. is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Computech to begin paying dividends, beginning with a dividend of $.50 coming 3 years from today. The dividend should grow rapidly at a rate of 50% per year during years 4 and 5; but after year 5, growth should be constant 6% per year. If the required return on Computech is 14%, what is the value of the stock today